Drilling results buoy Kingsgate

Goldminer Kingsgate Consolidated traded higher on Tuesday after news that it had identified new gold veins and extensions to gold zones in recent drilling beneath and around the previously closed D Pit at its flagship Chartree gold project in Thailand.

The company said the results included intercepts of 14 metres at a grade of 3.8 grams a tonne gold, starting from 25 metres, and 21 metres at a grade of 2.9 grams a tonne/t from 98 metre, and that the near-surface gold results showed the potential to reopen and expand the D Pit.

Gold for immediate delivery was little changed at $US1,151.42 an ounce in Asian trade.